Silver Lion is to acquire the integrated finance marketplace Even financial in a $ 440 million deal. The development will accelerate MoneyLion’s mission to provide financial access and advice.
The context: Founded in 2013, MoneyLion is a pioneering fintech in mobile banking, which promotes financial well-being through machine learning and artificial intelligence.
With RoarMoney, Credit Builder Plus, Instacash Advance, MoneyLion Crypto, and Investment Account, MoneyLion presents itself as a holistic place to spend, save, invest, borrow, and plan.
“MoneyLion gives all Americans access to all types of financial tools“, co-founder and CEO Dee Choubey said in a recent conversation with Benzinga. “It’s a community where you join to be in the know. You join to be powered by trends and community data.
What happened: The acquisition of Even Financial will strengthen MoneyLion’s ability to improve consumers’ ability to find and access financial products.
Connects and even matches consumers with real-time personalized financial product recommendations using its Marketplace technology.
The company is supported by Goldman Sachs Group Inc SG, American Express Company AXP, SoFi Technologies Inc SOFI, F-Prime Capital, MassMutual Ventures, LendingClub Corporation CL, Canaan Partners, and GreatPoint Companies.
Why is this important: Even Financial leverages machine learning and advanced data science to solve important problems in acquiring financial services.
Via a state-of-the-art API and integrated financial markets, Even better connects nearly 400 financial institutions and 500 distribution partners in areas such as loans, credit cards, mortgages, savings and insurance products.
“The combination of Even’s best recommendation engine with MoneyLion’s powerful proprietary products and open-architecture marketplace expands the range of products and services available on our platform while providing a new distribution channel to financial partners of MoneyLion. ‘Even,’ Choubey said.
“Together, we can accelerate our mission of providing financial access and guidance to hardworking Americans, reaching them where they are, and enabling them to make financial progress wherever they are in life. . “
To learn more about MoneyLion, click here.